DoorDash stock rises on record orders, revenue misses estimates
DoorDash shares rose after the company reported record orders of 933 million in the latest quarter, beating earnings expectations. However, revenue of $4.04 billion fell short of analyst estimates. The food delivery company's strong delivery demand drove the order volume, but the revenue miss tempered investor enthusiasm. The results highlight the competitive pressures in the food delivery market as DoorDash continues to expand its services.
Key facts
- DoorDash stock rose on record orders.
- 933 million total orders in the quarter.
- Revenue of $4.04 billion missed expectations.
- Earnings beat estimates.
- Strong delivery demand drove order volume.
Entities
Institutions
- DoorDash
Sources
- Quartz —